SuperBobTaylor
06 Feb 2018
Volume Really big volume today. Wonder is going on. Someone seems willing to buy all they can get under 190ish. Shame there also seems be enough willing sellers to satisfy the buyer(s). SBT
Rhodium45
02 Feb 2018
The mining supercycle Goldman all but says the mining supercycle is back:[link] sees copper enjoying double digit gains to top $8,000 a tonne ($3.63/lb) over the next 12 months. For copper that constitutes a 12% jump from today's price...."
SuperBobTaylor
02 Feb 2018
QP or not QP that is the question In the last quarterly update RNS the company gave the following "Copper prices rose during the quarter with an average realised price per pound of copper payable, including the QPs closed in the period, of $2.87/lb. The average spot copper price during the quarter was $3.09/lb. The realised price of shipments during the quarter excluding QPs was approximately $3.10/lb."So we have the A. the prevailing Cu price = $3.09/lb B. The realised Cu price = $2.87/lb C. The realised Cu price excluding QPs = $3.10/lbA and B we have always been given but not C. So what is C and what is a QP? The answer is quotation period. The selling agreement works like this 1.Company delivers copper to the port 2.Company receives 90% of value based on expected payment terms, treatment charges, expected penalties, provisional assays and the prevailing copper price. (we now have an open QP) 3.Copper takes between 1 and 4 months to deliver to smelter depending on which of the 3 buyers the company is shipping to 4.Copper reaches the buyer. Buyer now settles the open QP at the new prevailing copper price. This balance could be positive or negative depending on the movement in the price of copper whilst the QP was open. 6. QP is closedSo I believe that the difference between the prevailing and realised Cu price for a quarter is not down to impurity but open QPs that were opened at lower copper prices early in the quarter. Last year each quarter averaged a higher Cu price than the last than the last. The realised Cu price excluding QPs is the actual price that they are getting. $3.10/lb.This is based on correspondence with representatives of the company.SBT
Rhodium45
30 Jan 2018
Re: Peel Hunter I see Peel Hunt have just cut its price target to 245p (from 255p).But its still a buy whether its 230, 255 or 245.
Rhodium45
28 Jan 2018
A bit of light reading Robert Friedland tells Frank Holmes why copper is ready to run:[link] deals off to best start in 12 years as prices surge:[link]
Tired and Confused
22 Jan 2018
Peel Hunter Interesting to see that Pell Hunter have increased their Buy rating from a target price of 230p on the 4th Jan 2018 to 255p on the 10th Jan 2018.No doubt that had some impact on the recent price. Copper has a long way to go in 2018 IMHO so there should be an upside from here.AIMHO and DYOR
Small Holding
22 Jan 2018
Re: 2017 Operations RNS Usual type of update from Atalaya that only gives part of the picture.Throughput 8.8Mtpa short of the 9.5MtpaRealised price $2.87/lb, we expected that because of the time delay they are always nearly a quarter behind.AISC not clear but between $2.05 and $2.20/lbMargin between 67 and 82 cents a poundAs usual we have to wait until we get the Financials to get the full pictureLets see what the market makes of it
quackers1
22 Jan 2018
2017 Operations RNS Copper production at Proyecto Riotinto for 2017, the first full year of commercial production, was 37,164 tonnes up from 26,179 tonnes reported in 2016. For 2017 the operation reported a cumulative throughput rate of 8.8Mtpa with average copper head grade of 0.49% and a recovery rate of 85.45%. On a comparative basis to 2016, throughput has increased as operations were stabilised, copper grade was consistent with estimates and recovery has improved materially. Throughput rates and recoveries for Q4 were slightly better than in Q3 with copper head grade impacting metal contained in concentrate. Third quarter 2017 reported record quarterly copper production at Copper prices rose during the quarter with an average realised price per pound of copper payable, including the QPs closed in the period, of $2.87/lb compared with $2.18/lb in Q4 2016 and $2.66/lb in Q3 2017. The average spot copper price during the quarter was $3.09/lb. The realised price of shipments during the quarter excluding QPs was approximately $3.10/lb. All-in sustaining costs ("AISC"
for 2017 slightly increased mainly driven by the foreign exchange rate of USD and Euro. Further details on operating cost will be provided together with the Financial Statements but Management expects AISC to be in the range of $2.05/lb to $2.20/l
Rhodium45
17 Jan 2018
Supply disruptions could boost copper prices [link] Jan 17 (Reuters) – Chile's state copper commission, Cochilco, on Wednesday raised its estimated 2018 average price for the metal to $3.06 per pound from its previous forecast of $2.95 per pound, pointing to the potential for global supply disruptions in the coming year.Cochilco Vice President Sergio Hernandez cited a "perception of vulnerability" that he attributed to the large number of anticipated labour negotiations in Chile, the world's top copper producer, and in neighbouring Peru.That, in combination with new Chinese environmental regulations on smelters to counter pollution and curbs on scrap copper imports by the country, is likely to make prices rise more quickly than originally anticipated, he said."There are between 20 and 25 collective negotiations expected (locally). If some of them lead to significant strikes that would have a positive impact on prices," Hernandez said.Given the potential for supply issues, Cochilco predicted a global copper supply deficit of 175,000 tonnes in 2018, versus 67,000 in 2017....
rumrunner
15 Jan 2018
Biggish buy 50,000 at 184p.
BlackPrince
12 Jan 2018
Re: Momentum That headline had me thinking that group of left-wing nutjobs had pervaded the site.
dave297
12 Jan 2018
Momentum It will be interesting to see whether our SP strength over recent days will prove to be another flash in the pan, or whether momentum will build & we are in the process of re rating towards fair value-whatever that may be , but lets say 220p-255p.
Accypete
12 Jan 2018
Re: My small holding I am almost in profit, a couple of good days will push me over the line.I am holding until the end of year report, hopefully Alberto will make a big push to over deliver and the SP will rise to the 250 mentioned. This may be the time I lower my holdings as after year end it will be some time (I believe) before we have a SP higher moving activity.Don't know if I can wait another 2 or 3 years to see the benefits of the next phase of Atalaya, I have been invested here for about 4 years without any major profits, might be time to move on, I dont have the time or inclination to be a day trader, I tend to invest in companies I believe in. 80% of my funds are in unit trusts (boring but profitable) so I may be moving any profits into them.I will probably always have a small holding in Atalaya, just to keep interest in it.Who knows, I may dip in and out as projects move forward but my days of keeping a large part of my portfolio in Atalaya are over once I make some profits.All the best.
flyingInferno
11 Jan 2018
Re: My small holding I’m sad and some what unsettled by your decision Small Holding. Your analysis has always been thorough and well respected! For that I’d like to say thank you. Obviously a big decision for u considering not only the hard earned cash you have invested here but ALSO your immense time and research. Good luck with your investing. I will continue to hold here where one day I expect EMED /AYTM to pay dividends as Alberto has hinted previously. I agree though, Tuoro will probably require further funding from the market in due course... but with expansion comes further profit. After all, this was the birth place of RTZ!!
iPedro
10 Jan 2018
Re: My small holding SH.Reading through your post, it reflects bad LTH sentiment. Entirely Understandable.But under any LTH's hyper macro loathing fulled by years of detailed knowledge of - I'll just say for ease - extortion and ill repute, hides a real potential now for newcomer investor enthusiasm. If you remember, I was there back then, maybe not quite as far as you, but over 6 years ago under Harry.Now without the heavy scarring of being a ten-year investor of EMED, I see new enthusiasm. I see through the Astor case, Trafigura holding, off-take agreement shlt, everything. To me now, it seems small. Usual detail you're going to get with junior startup companies.Now I've re-looked at EMED, I see it similar now to when Harry had it all those years ago. With fresh enthusiasm. Like new investors will see as well. Yes, similar challenges of problem, but everyone wants summat for nowt, like the poor or immigrants. The more you give em for free, like a house, the more they want. It's night following day. Inevitable for an interest with a magnitude of this. Problems only exist because of potential. Everyone wants it, and in a corrupt country like Spain, no surprise. They'll never go away, especially in Spain - but on a scale of magnitude, now an even more undervalued asset than it was back when Harry had it - and that , nearly 7 years ago, for my first toe-step at a £132m market cap, was a steal.Problems now will IMO fade to a mere irritation rather than investment worry. Once Cu escapes to fair value, as is currently under way, burdening investor worries will fade and disappear.TBH, I absolutely do not - in fact, never have, even in the Estevez days (whatever he was called) - believe or bought into the BB bullshlt. And I even less could'nt give a shlte now about the off-take agreements seemingly strangulating the company. It's just a crock of shlt. It's not market sensitive. Or at least not enough to concern yourself about. And they just raised half the money for Touro!I know you'll probably not really appreciate this post, but that's because I've been listening long enough.What I'm trying to say is that this time, right now, today, after all EMED LTH's suffering, really might be the time. Right when it really should have been, about 6 or 7 years ago.As of the other day, I'm quite largely RE-interested in this stock again, if anyone might not have worked out...All the best. GLA
